Global Blood Transfusion Devices Market Size By Product (Apheresis Systems, Infusion Devices, Blood Warmers, Venous Access Devices, Filters), By Application (Cardiovascular Surgeries, Orthopedic Surgeries, Neurological Surgeries, Obstetrics & Gynecological Surgeries), By End-Use (Hospitals, Specialty Clinics), By Geographic Scope And Forecast

Blood Transfusion Devices Market Size And Forecast

Blood Transfusion Devices Market size was valued at USD 4.34 Billion in 2021 and is projected to reach USD 7.98 Billion by 2030, growing at a CAGR of 6.12% from 2023 to 2030.

The Blood Transfusion Devices Market is anticipated to be mainly boosted by a high prevalence of blood-related illnesses and an increase in the incidence of chronic kidney ailments around the world. Also, developments in regard to technology is likely to positively influence the growth of market over the forecast period. The Global Blood Transfusion Devices Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Blood Transfusion Devices Market Definition

Blood transfusion is a medical technique that includes the transfusion of blood and other blood components to the patients to substitute the lost components of the blood. The procedure is done by insertion a venous access device and catheter into either a central or peripheral vein or passing the blood or blood component via an apheresis system or infusion pump. The blood transfusion technique has broad applications in the treatment of several medical disorders such as blood cancers.

In recent times, there is significant growth in the number of several types of surgeries in the global locations. Some of the main surgical procedures with high need for blood transfusion are cardiovascular procedures, C-section procedures, accident injuries, and trauma. Hence, the global blood transfusion devices market is anticipated to experience growth of the market demand over the forecast period.

Global Blood Transfusion Devices Market Overview

Some of the major factors which are boosting the market growth include a rise in the number of blood disorders, increasing accidents, and trauma cases, the increasing number of surgical procedures, and technological development. The most commonly conducted surgeries that need blood transfusion include C-section procedures, cardiovascular procedures, and accident injuries and trauma.

According to the World Health Organization updates in 2021, global cesarean section rates have grown from about 7% in 1990 to 21% today, and are likely to continue growing over the forecast period. If this trend continues, by 2030 the highest rates are expected to be in Eastern Asia (63%), Latin America and the Caribbean (54%), Western Asia (50%), Northern Africa (48%) Southern Europe (47%) and Australia and New Zealand (45%). Hence, the rising number of surgical procedures is expected to surge the demand for blood transfusion devices.

However, the growing use of minimally invasive operations is projected to minimise the requirement for allogeneic transfer or blood conservation during these operations, which hinders the adoption of blood transfusion devices. In addition, with technological breakthroughs in the healthcare area, dependable and improved diagnostics, as well as kits and reagents for blood transfusion, are being launched. Key market participants are focusing on incorporating technological advancements in testing methodologies. Moreover, factors such as growing demand for molecular-based disease screening and the launch and approval of sophisticated systems have the prospective to drive the market over the projection period.

Global Blood Transfusion Devices MarketSegmentation Analysis

The Global Blood Transfusion Devices Market is Segmented on the Basis of Product, Application, End-Use, And Geography.

Blood Transfusion Devices Market, By Product

• Apheresis Systems
• Infusion Devices
• Blood Warmers
• Venous Access Devices
• Filters
• Others

Based on Product, the market is segmented into Apheresis Systems, Infusion Devices, Blood Warmers, Venous Access Devices, Filters, and Others. The Apheresis Systems segment dominated the market for Blood Transfusion Devices in 2021. This can be owing to its broad use for the treatment of leukostasis, which is triggered by increased white blood count in leukemia. Moreover, the apheresis system is also utilized for treating serious rheumatoid arthritis, so as to reduce the risk related to antibody-mediated rejection of organs while Goodpasture syndrome, systemic lupus, dermatomycosis, or polymyositis, which is expected to drive the growth of the segment over the forecast period.

Blood Transfusion Devices Market, By Application

• Cardiovascular Surgeries
• Orthopedic Surgeries
• Neurological Surgeries
• Obstetrics & Gynecological Surgeries
• Others

Based on Application, the market is segmented into Cardiovascular Surgeries, Orthopedic Surgeries, Neurological Surgeries, Obstetrics & Gynecological Surgeries, and Others. The Cardiovascular Surgeries segment dominated the market for Blood Transfusion Devices in 2021 owing to growth in adoption of these devices used while cardiovascular surgeries. Moreover, the rising number of cardiovascular treatments, such as CABG (coronary artery bypass grafting), coronary angioplasty, valve replacements, heart transplants, ICD & pacemaker implantations, among other things, will aid this market to flourish.

Blood Transfusion Devices Market, By End-Use

• Hospitals
• Specialty Clinics
• Others

Based on End-Use, the market is segmented into Hospitals, Specialty Clinics, and Others. The Hospitals segment dominated the market for Blood Transfusion Devices in 2021. The growing number of surgical procedures carried out in hospital settings will fuel segment growth. The increasing prevalence of obstetrics and gynecological and cardiovascular procedures carried out in hospitals are anticipated to boost market growth over the forecast period.

Blood Transfusion Devices Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Based on Regional Analysis, the Blood Transfusion Devices Market is classified into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The North America region has the greatest market share and is expected to grow at highest CAGR over the forecast period. 2021. This trend can be owing to several factors, such as surge in the demand for several surgical procedures, growing cases of trauma incidence, and presence of the solid regional economy i.e. the United States. Moreover, the growing need for blood transfusion products in the US is also expected to drive the demand for the Blood Transfusion Devices Market over the coming years. Also, there is a daily need of 36,000 units of red blood cells in the United States each day. These trends are expected to boost the sales in North America.

Key Players

The “Global Blood Transfusion Devices Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as Some of the prominent entities operating in the market are Fresenius Kabi AG, Grifols S.A., Terumo Corporation, B. Braun Melsungen AG, Becton, Dickinson, Company, Immucor Inc., Haemonetics Corporation, Kaneka Corporation, Macopharma SA, Tenko International Group Corp, among others.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In May 2022, Vitestro launched an autonomous device for blood collection. The new device combines artificial intelligence (AI) and ultrasound-guided 3D reconstruction with robotic needle insertion to ensure the precise and secure collection of blood.
• In January 2020, The Dominican Republic’s transfusion and apheresis disposables factory received a EUR 30 million expansion from Fresenius Kabi. The business invested in the expansion to keep up with the growing demand for these premium disposables.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Blood Transfusion Devices Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The Porter’s five forces model can be used to assess the competitive landscape in Global Blood Transfusion Devices Market gauge the attractiveness of a certain sector, and assess investment possibilities.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region